Digest: Murdoch staying put
EmptyBritish Sky Broadcasting Group CEO James Murdoch said Wednesday that he has no plans to leave the U.K. satellite TV firm this year to take a position at his father News Corp., which controls BSkyB. When asked Wednesday at the annual World Economic Forum in Davos, Switzerland, about a recent U.K. media report that had suggested such a move, James Murdoch told Bloomberg News that this was "not true."
Shares of Yahoo! Inc. led the gainers on The Hollywood Reporter's Showbiz 50 stock index Wednesday, even though analysts had differing views on the company's latest quarterly earnings and growth outlook issued Tuesday. Investors seemed to focus on the early debut of a new search advertising system that is expected to boost Yahoo!'s revenue gains this year. The stock rose 7.3% to $28.94.
Mohn strong on BVG
COLOGNE, Germany -- Germany's Mohn family is further strengthening its position at media giant Bertelsmann AG by implementing changes to the group's holding company. A spokesman confirmed Wednesday changes to the Bertelsmann Verwaltungsgesellschaft, which controls 100% of the voting shares in Bertelsmann. The BVG board will be reduced from eight members to six, with three coming from the Mohn family. Patriarch Reinhard Mohn, his wife Liz and daughter Brigitte will remain on the BVG board, while son Christoph will step down along with Erich Ruppik, head of Bertelsmann's workers council. Bertelsmann CEO Gunter Thielen, a Mohn confidant who moves from the CEO job to become chairman of Bertelsmann's supervisory board in January 2008, will stay on the BVG board. A space on the board was traditionally held for the company's CEO, but that will no longer be the case, strengthening the family's influence.